#1Investor Presentation First Quarter 2022 walk me#2walk me | Safe harbor and other information. Certain statements in this presentation may constitute "forward-looking" statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "seek," "believe," "estimate," "predict," "potential," "continue," "contemplate," "possible" or similar words. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to manage our growth effectively, sustain our historical growth rate in the future or achieve or maintain profitability; the impact of the COVID-19 pandemic or adverse macroeconomic changes on our business, financial condition and results of operations; the growth and expansion of the markets for our offerings and our ability to adapt and respond effectively to evolving market conditions; the effects of increased competition in our target markets and our ability to compete effectively; our ability to attract and retain new customers and to expand within our existing customer base; the percentage of our remaining performance obligations that we expect to recognize as revenue; our ability to effectively develop and expand our marketing and sales capabilities; risks related to our international operations and our ability to expand our international business operations; the effects of unfavorable conditions in our industry or the global economy or reductions in information technology spending; and other risk factors set forth in the section titled "Risk Factors" in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 24, 2022, and other documents filed with or furnished to the SEC. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Unless otherwise indicated, information contained in this presentation concerning economic conditions, our industry, the markets in which we operate and our competitive position is based on a variety of sources, including information from independent industry analysts and publications, as well as our own estimates and research. Management estimates are derived from publicly available information released by independent third-party sources, as well as data from our internal research, and are based on assumptions made by us upon reviewing such data and our knowledge of our industry and the markets in which we operate, which we believe to be reasonable. Although we believe the data from these third-party sources is reliable, we have not independently verified any such information, and these sources generally state that the information they contain has been obtained from sources believed to be reliable. In addition, as discussed above, projections, assumptions and estimates of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk due to a variety of factors that could cause our actual results to differ materially from those expressed in the estimates made by the independent third parties and by us. © All Rights Reserved 2#3| Our use of Non-GAAP financial measures. In addition to our financial information reported in accordance with GAAP, this presentation may contain one or more of the following non-GAAP financial measures: Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP Operating Income (Loss), Non-GAAP Operating Margin, Non-GAAP Net Income (Loss) attributable to WalkMe Ltd., Non-GAAP Net Income (Loss) per share attributable to WalkMe Ltd. and Free Cash Flow, all of which are non-GAAP financial measures. We believe that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key measures used by management in its financial and operational decision making. Non-GAAP financial measures have limitations as analytical tools and may differ from similarly titled measured presented by other companies. The presentation of this financial information is not intended to be considered as a substitute for the financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business. walk me Non-GAAP Gross Profit and Non-GAAP Gross Margin. We define Non-GAAP Gross Profit as gross profit excluding share-based compensation and amortization of acquired intangibles. We exclude these items because they occur for reasons that may be unrelated to our core operating performance during the period, and because we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. We use Non-GAAP Gross Profit with traditional GAAP measures to evaluate our financial performance. Non-GAAP Gross Margin is calculated as a percentage of revenues. Non-GAAP Operating Income (Loss) and Non-GAAP Operating Margin. We define Non-GAAP Operating Income (Loss) as income (loss) from operations excluding share-based compensation and amortization of acquired intangibles. We exclude these items because they occur for reasons that may be unrelated to our core operating performance during the period, and because we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. We use Non-GAAP Operating Income (Loss) with traditional GAAP measures to evaluate our financial performance. Non-GAAP Operating Margin is calculated as a percentage of revenues. Non-GAAP Net Income (Loss) attributable to WalkMe Ltd. We define Non-GAAP Net Income (Loss) attributable to WalkMe Ltd. as net income (loss) attributable to WalkMe Ltd. excluding share-based compensation and amortization of acquired intangibles. We exclude these items because they occur for reasons that may be unrelated to our core operating performance during the period, and because we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. We use Non-GAAP Net Income (Loss) attributable to WalkMe Ltd. with traditional GAAP measures to evaluate our financial performance. Non-GAAP Net Income (Loss) per Share attributable to WalkMe Ltd. is calculated based on ordinary shares outstanding after accounting for the exchange of our outstanding convertible preferred shares into ordinary shares as though such event had occurred at the beginning of the periods. Free Cash Flow. We define Free Cash Flow as net cash provided by (used in) operating activities, less cash used for purchases of property and equipment and capitalized internal-use software costs. We believe that Free Cash Flow is a useful indicator of liquidity that provides information to management and investors, even if negative, about the amount of cash used in our business. Our Free Cash Flow may vary from period to period and be impacted as we continue to invest for growth in our business. ARR. We define ARR as the annualized value of customer subscription contracts as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms (including contracts for which we are negotiating a renewal). Our calculation of ARR is not adjusted for the impact of any known or projected future events (such as customer cancellations, upgrades or downgrades, or price increases or decreases) that may cause any such contract not to be renewed on its existing terms. In addition, the amount of actual revenue that we recognize over any 12-month period is likely to differ from ARR at the beginning of that period, sometimes significantly. This may occur due to new bookings, cancellations, upgrades, downgrades or other changes in pending renewals, as well as the effects of professional services revenue and acquisitions or divestitures. As a result, ARR should be viewed independently of, and not as a substitute for or forecast of, revenue and deferred revenue. Our calculation of ARR may differ from similarly titled metrics presented by other companies. For more information on the non-GAAP financial measures, please see the reconciliation tables provided in the appendix to this presentation. The accompanying reconciliation tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures. © All Rights Reserved 3#4WalkMe at a glance. Digital Adoption Platform accredited market category Loo $10.5M Q1-22 Net New ARR $230M Annual Recurring Revenue EF 121% $-Net Retention T4Q, customers with 500 or more employees. 34% Y/Y Increase in RPO to $318M and 41% LT Y/Y to $134M -1150 Employees 34% Y/Y Subscription Revenue Growth. Total Revenue growth at 33% Based on rounded numbers | Financial, customer, and employee data as of March 31, 2021 | Subscription Revenue and Total Revenue Growth for Q1-22 walk me#5| Realize exponential value with technology. 77% Data Digital Transformation Analytics Unlock deep analytics into the organizations tech stack and business processes. Understand how employees and customers are interacting with software and identify the challenges. Employees & Customers walk me Digital Adoption Platform Action Unified Enterprise User Experience Take action on the data unlocked and deliver elegant experiences with a no-code editor on top of any enterprise application to ensure the full value from technology. walk me © All Rights Reserved 5#6| Defining and Leading a new market category - Digital Adoption. salesforce CRM workday. HCM servicenow Service Management DocuSign E-Signature okta Identity Management walk me Digital Adoption Platform (DAP) walk me © All Rights Reserved 6#766 By 2025, 70% of organizations will use digital adoption solutions across the entire technology stack to overcome still insufficient application user experience. Gartner November 2020 Estimated 2021 Total Addressable Market Digital Adoption TAM $34B walk me © All Rights Reserved 7#8| Our value proposition. CIO & Management Realize the ROI of digital transformation Gain visibility into the tech stack as you constantly identify gaps and problem areas to drive user adoption of digital assets. Employees & Customers Experience success Effortlessly use any digital asset as you remain efficient and productive across digital journeys. walk me © All Rights Reserved 8#9The digital transformation challenge.#10| A steady stream of new applications creates a compounding problem. CIO Lacks Visibility Without insight to digital assets and business processes, extracting value from apps requires clicking through logs in every app to find actionable data. Each new app makes it that much harder to have proper visibility to the entire tech stack. P hrey ala G SAD W walk me Poor User Experiences Software for single use cases do not, by their nature, consider the user experience across all of the apps required to complete business processes. With no Ul standards for apps, employees and customers are increasingly overwhelmed. © All Rights Reserved 10#11Achieving digital transformation remains elusive for organizations. (1) Boston Consulting Group, Flipping the Odds of Digital Transformation Success, October 2020 70% of digital transformations fall short of their objectives (¹) X Inability to drive change in user behaviors X Proliferation of enterprise applications X Lack of analytics to optimize digital initiatives Inconsistent user adoption drives low return on technology investments. walk me © All Rights Reserved 11#12The Digital Adoption Platform.#13WalkMe's Digital Adoption Platform (DAP) is a code-free software & platform that enables organizations to measure, drive, and act to ultimately maximize the impact of their digital transformation and accelerate the return on their software investment. walk me © All Rights Reserved 13#14| The WalkMe Digital Adoption Platform. Data Management Dashboards Digital Experience Analytics Build Deployment WalkMe Engagement Analytics Session Playback & Session Stream Ul Intelligence Editor Security Employees & Customers Share walk me 1 Integration Center Guidance Experience Engagement Automation Solution Accelerators ActionBot Workstation Core Technology walk me © All Rights Reserved 14#15| Data & visibility. WalkMe provides business executives with visibility across the tech stack and the insights needed to measure, drive, and act to ultimately maximize the impact of their digital transformation strategy. Management Dashboards 000 <<> WalkMe Sales Stack song of the w The 100% Uglesforce lightning Rorganization 74% 300 g ww ing to press conn (Q 225 55% gres Cesvence Organiton Track & measure digital transformation initiatives WalkMe Engagement Analytics Active +0 Systems Overview T Digital Experience Analytics WAN by atte Analyze tech-stack adoption and utilization Ⓒonce 13 OR MA 20% 20% An Session Playback & Session Stream C < Funnole M S 100% 0 CO promoting Make data-based decisions across your organization FR C 10.5% Comp 13.3% Con O walk me © All Rights Reserved 15#16| Experience. User experience is the driving force of WalkMe. Design unified, contextual and personalized experiences that engage and drive user adoption of your digital assets on mobile, web, and desktop. Engagement By WalkMa 000 Edit 00001393 WalkMe Automation in action! WalkMe went ahead and selected the correct values to save you time! Click Next to continua. Case Reason Card is locked Dat Code Next Status Guidance Working Pronty Hol Contact Pl (214) 314-33-44 Contact Email [email protected] Cose Org web Ste Proactively drive users to complete any business process across applications ActionBot wolkime Hiw How can I help you today? Please remember, I'm a bot. Suggestions Automation Take time off Create new Opportunity with Workstation Go to an Account Go to an Opportunity Type message... X Workstation (D Simplify user experiences by automating mundane tasks- within and across applications. me Anne Orging A Serchanything Hi there Welcome to Workstation! Connect more appa wy La *commis upcoming www 0:23 1:50 2:45 Ny User rew es wiedraming 11 Incomplete Onboarding Task Open a support bryster tretie D DE A SHAL walk me Centralize and simplify search, form fills or the need to sift through convoluted flows © All Rights Reserved 16#17| Build. My Shoutout GREET 29 FORMA [x CLAIK 0 SCH B With WalkMe's code-free editor, design elegant experiences for employees and customers using a suite of features to deliver guidance and drive user engagement, productivity, and efficiency. D T Appearance Editor 000 O FPC (O Free Share Fosture Adoption Example ins wel how Wars No-code simplicity, enterprise grade functionality Solution Accelerators walking 000 Sol a woko Solutions Gallery workday. What's New in 2020 Release 27 workday Accelerated Launch Person workday Manager Year-End Performance Review workday Employee: Year-End Performance Review C Best practices and templates for ease of use and immediate time-to-value +0 000 (<> wek ge Shield Search in folder ANS P Need New Profia jupka) de profis thank Acquire Profe hanguion ATM Duty Codes Card Accuptor CSCFeature Selection Miscellaneous Feature Suppor Miscellaneous Feature Suppor e Processing DNI Expresspay Feature Support Dial Wate Faut indicators For Fraud Indicators F02 Faut indicators Fo SafeKey Debra Results ← Miscellaneous Feature Support (x b. 293 Misc. Feature Support Lo] 01-01 Click Need Help? Extended Financial Addenda +0 walk me Agile to website changes, browser updates, and platform version releases © All Rights Reserved 17#18| Core technology. Powered by Ul Intelligence, our core, patented technology leverages machine learning and Al to drive users to success. ● Deployment Ul Intelligence Security Simple and flexible deployment across any enterprise environment Cloud-native architecture for performance, reliability, and availability Security and privacy by design Integration Center VOOR 05 href="/s2.mysite.com" /> ct" href="//www.mysite.com" /> $||0; mtcreateElement("script"); script'; s:' == document.location; walk me © All Rights Reserved 18#19| Global customers. CONSUMER & RETAIL ULTA Nestle FINANCIAL SERVICES BANK WEST BNP PARIBAS HEALTHCARE & LIFE SCIENCES Geisinger citi Goldman EDUCATION & NON PRO Make-A-Wish Goldman EXTRADE® Sachs Quest Diagnostics™ AstraZeneca KAPLAN Stanford MEDICINE TECHNOLOGY unity Linked in ENERGY, INDUSTRIAL, & TRANSPORTATION Schneider Electric American Airlines COMMUNICATIONS BT LUMEN CISCO Red Hat sprinklr walk me © All Rights Reserved 19#20Financial Overview.#21| Q1-22 Financial Highlights. $230.1M Annual Recurring Revenue 88 34% Y/Y subscription revenue growth. Total revenue growth at 33% F 121% $-Net Retention T4Q, customers with 500 or more employees. (¹) 34% Y/Y Increase in RPO to $318M and 41% LT Y/Y to $134M 56% Y/Y DAP ARR Growth in (38% of total ARR) مهما $10.5M Q1-22 Net New ARR Based on rounded numbers | Financial, customer, and employee data as of March 31, 2022 | See "Selected Other Data" in the appendix of this presentation for additional information regarding dollar-based net retention walk me © All Rights Reserved 21#22| Multiple growth drivers. Innovate and advance platform Acquire new customers Increase usage and spend from existing customers International and industry expansion walk me Ecosystem development © All Rights Reserved 22#23| Increasing Annualized Recurring Revenue. ($ in MM) 93 25% 75% >= 500 Employee Accounts < 500 Employee Accounts Q1-19 $103 23% 77% Q2-19 $117 22% 78% Q3-19 $131 20% 80% Q4-19 >= 500 Employee Accounts ARR Y/Y Growth Total ARR Y/Y Growth $138 19% 81% Q1-20 59% 48% $146 18% 82% Q2-20 50% 41% $154 17% 83% Q3-20 39% 32% $164 17% 83% Q4-20 31% 25% $178 14% 86% Q1-21 36% 29% $191 13% 87% Q2-21 38% 31% $202 14% 86% Q3-21 36% 31% *In the fourth quarter 2021, we updated and enhanced our third party data sources for identifying customers with 500 or more employees and as a result now capture a greater number of customers in this category than we did previously. For comparative purposes without the new data source, ARR from customers with 500 or more employees grew 32% year-over-year and represented 87% of total ARR for Q1-22. With the new data source ARR from customers with 500 or more employees grew 39% year-over-year and represented 92% of total ARR. Based on rounded numbers | Financial, customer, and employee data as of March 31, 2022 $220 8% 92% Q4-21 40/48%* 34% walk me $230 8% 92% Q1-22 32/39%* 30% © All Rights Reserved 23#24| Increasing ARR from customers who have broadly adopted.* Number of DAP customers more than tripled since Q1-20 $9 Q1-19 $13 $17 $19 $21 Q2-19 Q3-19 Q4-19 Q1-20 $28 $32 $42 Q2-20 Q3-20 Q4-20 $56 Q1-21 +56% $64 Q2-21 $71 Q3-21 $80 Q4-21 +9% ] $87 Q1-22 134 (+52% y/y growth) Customers as of Q1-22 $653k (+3% y/y growth) Q1-22 Average ARR *We call customers who have broadly adopted our platform DAP customers. DAP customers are those who have purchased enterprise-wide subscriptions or who have department-wide usage of our Digital Adoption Platform across four or more applications. Based on rounded numbers | Financial, customer, and employee data as of March 31, 2022 walk me © All Rights Reserved 24#25| Quarterly Customer Count. Customers with> $100K in ARR 193 211 233 265 284 54% 56% 59% 62% 306 328 347 368 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 63% 65% 67% 68% 71% 397 Based on rounded numbers | Financial, customer, and employee data as of March 31, 2022 73% +29% 419 454 476 Q3-21 Q4-21 Q1-22 75% 77% 77% % of ARR Q1-19 9% Customers with > $1M in ARR 8 10% 12 13% 13 16% Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 14 16% 17 17% 19 18% 18% 22 Q1-21 22% +41% 26 27 Q2-21 Q3-21 24% 25% 31 walk me 27% 31 Q4-21 Q1-22 27% © All Rights Reserved 25#26| $- Net Retention. 500 or more Employees 117% 117% 118% 119% 121% 123% 122% 120% 118% Trailing 4 Quarters 117% 118% Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Based on rounded numbers | Financial, customer, and employee data as of March 31, 2022 | 121% 121% 117% 117% 121% 123% 123% Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 126% 118% 112% 118% Quarterly View 121% 120% 125% walk me 117% Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 $-Based Net Retention Definition: Trailing four quarters customer value growth; reflects customer renewals, expansion, contraction and churn. Enterprise is customers with 500 employees or more. See "Selected Other Data" in the appendix of this presentation for additional information regarding dollar-based net retention © All Rights Reserved 26#27| Delivering Sustained Subscription Revenue Growth. ($ in MM) $22 8% 92% Subscription Professional Services Q1-19 $25 11% 89% Q2-19 $28 11% 89% Q3-19 $30 9% 91% Q4-19 Subscription Revenue Y/Y Growth Total Revenue Y/Y Growth $34 Based on rounded numbers | Financial, customer, and employee data as of March 31, 2022 13% 87% Q1-20 47% 56% $37 12% 88% Q2-20 45% 47% $39 13% 87% Q3-20 35% 38% $39 10% 90% Q4-20 27% 28% $43 10% 90% Q1-21 30% 25% $47 10% 90% Q2-21 31% 28% $51 9% 91% Q3-21 37% 31% $53 9% 91% Q4-21 39% 37% walk me $57 10% 90% Q1-22 34% 33% © All Rights Reserved 27#28| Remaining Performance Obligations. ($ in MM) Long Term $300 $200 $100 $0 Short Term $205 $130 $75 Dec-20 +54% (LT +84%) Based on rounded numbers | Financial, customer, and employee data as of March 31, 2022 $316 $178 $138 Dec-21 $237 $142 $95 +34% (LT +41%) Mar-21 $318 $185 $134 Mar-22 walk me © All Rights Reserved 28#29GAAP to Non-GAAP Reconciliation and Selected Other Data#30| Reconciliation from GAAP to Non-GAAP Results. (In thousands; unaudited) Reconciliation of gross profit and gross margin GAAP gross profit Plus: Share-based compensation expense Plus: Amortization of acquired intangibles Non-GAAP gross profit GAAP gross margin Non-GAAP gross margin Reconciliation of operating loss and operating margin GAAP operating loss Plus: Share-based compensation expense Plus: Amortization of acquired intangibles Non-GAAP operating loss GAAP operating margin Non-GAAP operating margin $ $ Three months ended March 31, 2022 43,080 851 176 44,107 76% 78% $ (29,642) 10,876 176 $ (18,590) (52)% (33)% 2021 $ 31,885 177 $ 32,062 75% 75% $ (13,045) 3,532 $ (9,513) (31)% (22)% walk me © All Rights Reserved 30#31| Reconciliation from GAAP to Non-GAAP Results. (In thousands, except share and per share; unaudited) Reconciliation of net loss GAAP net loss attributable to WalkMe Ltd. Plus: Share-based compensation expense Plus: Amortization of acquired intangibles Plus: Adjustment attributable to non-controlling interest Non-GAAP net loss attributable to WalkMe Ltd. Non-GAAP net loss per share attributable to WalkMe Ltd. basic and diluted Shares used in non-GAAP per share calculations: GAAP weighted-average shares used to compute net loss per share, basic and diluted Add: Additional weighted average shares giving effect to exchange of convertible preferred shares at the beginning of the period Non-GAAP weighted-average shares used to compute net loss per share, basic and diluted $ $ Three months ended March 31, 2022 (23,029) 10,876 176 (6,458) (18,435) (0.22) 83,964,074 83,964,074 $ (23,974) 3,532 $ 2021 $ 10,816 (9,626) (0.13) 13,995,089 58,732,075 72,727,164 walk me © All Rights Reserved 31#32| Reconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow. (In thousands; unaudited) Net cash used in operating activities Less: Purchases of property and equipment Less: Capitalized software development costs Free cash flow Three months ended March 31, $ 2022 (18,287) (650) (1,372) $ (20,309) $ $ 2021 (2,882) (488) (711) (4,081) walk me © All Rights Reserved 32#33| Selected Other Data. ($ In thousands; unaudited) Annualized Recurring Revenue $100,000+ ARR Customers Dollar-Based Net Retention Rate Trailing 4 quarters (all customers) Dollar-Based Net Retention Rate Trailing 4 Quarters (customers having 500 or more employees) Remaining Performance Obligations 2022 As of March 31, $230,110 476 115% 121% $318,168 2021 walk me $177,517 368 111% 118% $237,244 © All Rights Reserved 33